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Entering Schedule K-1 information on an individual return in ProConnect Tax

SOLVEDby Intuit7Updated July 31, 2023

To begin entering Schedule K-1 Information:

  1. Go to Input Return Income Passthrough K-1's.
  2. Select Partnership InformationS Corporation InformationEstate or Trust Information or REMIC.
  3. Enter the applicable information under the Info Tab in Part I.
  4. Enter applicable information under the Info Tab in Part II.
  5. Select Lines 1-10 tab  Part III.
  6. In the Federal Amount column, enter the amounts as shown on the federal Schedule K-1 in the corresponding input fields.
  7. For the resident state, if the state return amounts are different, enter the appropriate amounts in the State, if different column.
    • This input field refers to the Taxpayer's Resident State. The State, if different column should be used to report differences in law between federal and state taxation.
    • Entries made here are sometimes reported separately on state tax forms (like the California Schedule CA) while some states just report an adjustment to federal Schedule E income on the main form or associated adjustment form.
  8. If you have nonresident state amounts, enter the appropriate amounts in the State Source Amount column.
    1. Source each amount to the applicable state. 
    2. Enter amounts apportioned or allocated to the nonresident individual to be reported on their nonresident return as income from sources within that state.
    3. Entries in this field only impact nonresident returns and do not impact resident returns.
  9. Repeat steps 6 - 8 for each additional section in Input Return Income Passthrough K-1's.
    • Each section might have state-specific input fields identified by the state abbreviation enclosed with { } .
    • For example, New Jersey has Partnership income (loss) (NJ K-1, Part 2, line 1) {NJ} in the partnership module under Lines 1-10 tab  Part III
  10.  Look for any applicable state-specific sections.
    • For example, Partner's Share of New York Modifications is a NY state-specific input section.
  11. Some additional inputs may be needed under the Separately Stated Income and Deductions section.
    • If a passive activity, income can be entered as a positive amount or a deduction can be entered as a negative amount under First Passive Item, in the Other (Click on button to expand) field.
    • If a nonpassive activity, enter the information in the field Other nonpassive items (Click on button to expand).
    • Additional state-related inputs are in the Input Return  State & Local 
  12. These steps can be repeated for each federal and state Schedule K-1 received

Sourcing income for a multi-state passthrough K-1 in ProConnect

To enter K-1 income and deductions from multiple states in an individual or fiduciary return
Enter amounts in the Federal Amount column to flow to the federal return and the taxpayer's resident state return.
Use the State if Different column when the taxpayer's resident state amount differs from the federal amount.
Use the State Source Amount column to flow to the taxpayer's nonresident or part-year resident state returns only.
Select the plus sign  to the right of input fields to expand the input and enter specific amounts for each state (multiple states must already be added to the return for the + sign to show).
Alternatively, you can source amounts using the Federal Amount column.
Sourcing an amount to a state with the S selection in the Source column will make the amount flow only to that state. It won't affect the federal or any other state returns.

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